The National Assoication of REALTORS® (“NAR”) released the Pending Home Sales Index (“PHSI”) for the month of June on Wednesday, August 3rd. After a big hit in May, PHSI moved marginally lower in June. This does not appear to indicate any great wave of action in either way — hugely positive or negative.

Seasonaly adjusted the PHSI June number was 2.8% below May and it was 18.6% below the June 2009 number.

According to the NAR Press Release:

NAR chief economist Lawrence Yun said, “There could be a couple of additional months of slow home-sales activity before picking up later in the year, provided the job market continues to improve.”

You can find more news information about the June PHSI at these links:

• The Atlantic
• Bloomberg
• Housing Wire

The National Assoication of REALTORS® (“NAR”) released the Pending Home Sales Index (“PHSI”) for the month of May on Thursday, July 1st. The index took an expected hard drop when compared to the tax-incentive hyped months of March and April. The PHSI was down 30% over a very strong April and the index was down approximately 15% from last year (May 2009).

According to the NAR Press Release:

NAR chief economist Lawrence Yun said, “Consumers are rational and they rushed to meet the tax credit eligibility deadline in April. The sharp decline in contract signings in May is a natural result with similar low levels of sales activity anticipated in June.”

You can find more news information about the April PHSI at these links:

• USA Today
• Washington Post
• Housing Watch

Good Morning America offers a “What You Should Know” primer.

New home sales dropped almost 33 percent in May, according to a report from the Commerce Department. Mellody Hobson, “Good Morning America’s” personal finance contributor and president of Ariel Investments, appeared on the show this morning to talk about what the dive in home sales means for buyers and sellers.

For a look at the Question & Answer with Mellody, link directly to the story by following this link to the Good Morning America website.

The National Assoication of REALTORS® (“NAR”) released the Pending Home Sales Index (“PHSI”) for the month of April on Wednesday, June 2nd. The index built on a continued strong upturn in February and March to indicate the strongest PHSI since October of 2009. The PHSI was up 6.0% over a strong March and the index was up more than 22% from last year.

According to the NAR Press Release:

Lawrence Yun, NAR chief economist, said this second round of surging sales from the tax credit extension looks as strong as the original tax credit. “There were concerns that only a small pool of buyers were left to take advantage of the tax credit extension. But evidently the tax stimulus, combined with improved consumer confidence and low mortgage interest rates, are contributing to surging sales,” he said. “The housing market has to get back on its own feet and now appears to be in a good position to return to sustainable levels even without government stimulus…”

You can find more news information about the April PHSI at these links:

• Wall Street Journal
• Investor’s Business Daily
• Housing Watch

Photo Courtesy: homeinspectioncarolina via Flickr

According to the the Wall Street Journal’s in-house real estate expert you really should avoid the Pre-Listing Inspection. June Fletcher, writer for the Journal, believes that the Pre-Listing inspection could provide you with too much information about the condition of your property and force you to disclose flaws that might wait until the potential buyer conducts their own inspection. By waiting for an inspection you can manage your negotiating position and still honestly list your home.

Ms. Flectcher offers more advice and insight into the pre-lisitng inspection issue with this article.